Thursday, November 02, 2006

Stocks are in a grinding low vol consolidation. Gold continues to look strong and oil is in a range. More chatter is taking place about slowing consumer demand. At this point the economy is ok and credit is widely available. Therefore how much is are lower interest rates really going to stimulate demand. Doug Kass on realmoney.com thinks the consumer is lent, not pent up. I agree. We are running out of asset classes to inflate.

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